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Balance Sheet Cash Accounts receivable Inventory Net fixed assets Total assets Accounts payable Short-term notes payable Income Statement Sales (All Credit) Cost of goods sold Operating expenses Interest expense Taxes Net income $1,500 Ratios: Return on Equity = $30,000 Average Collection 12,000 6,000 Long-term debt Common stock $5,000 Quick Ratio = Retained Return on earnings Total Assets= 10% Total Liabilities Net Fixed Asset and equity Turnover= 1.6 Current Ratio 100 1,365 $2,530 15% 1.2